EVgo (EVGO) Set to Announce Earnings on Thursday

EVgo (NYSE:EVGO) is scheduled to post its quarterly earnings results on Thursday, April 4th. EVgo has set its FY 2024 guidance at EPS.

EVgo (NYSE:EVGO) last issued its earnings results on Wednesday, March 6th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The firm had revenue of $50.00 million during the quarter, compared to analyst estimates of $44.39 million. The business’s revenue for the quarter was up 83.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share. On average, analysts expect EVgo to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

EVgo Trading Down 8.3 %

Shares of NYSE EVGO opened at $2.21 on Wednesday. The business has a fifty day simple moving average of $2.49 and a 200 day simple moving average of $2.84. The firm has a market capitalization of $666.36 million, a price-to-earnings ratio of -4.70 and a beta of 2.45. EVgo has a one year low of $1.88 and a one year high of $7.90.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EVGO. Cantor Fitzgerald restated a “neutral” rating and set a $5.00 target price on shares of EVgo in a report on Thursday, March 7th. Citigroup decreased their target price on EVgo from $5.25 to $3.50 and set a “neutral” rating on the stock in a report on Friday, December 8th. Evercore ISI decreased their target price on EVgo from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Finally, Royal Bank of Canada upgraded EVgo from a “sector perform” rating to an “outperform” rating and decreased their price target for the company from $5.00 to $4.00 in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $5.19.

Insider Buying and Selling at EVgo

In other EVgo news, CFO Olga Shevorenkova sold 19,363 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $58,089.00. Following the completion of the transaction, the chief financial officer now directly owns 81,991 shares in the company, valued at $245,973. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, President Dennis G. Kish sold 34,717 shares of EVgo stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total transaction of $104,151.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Olga Shevorenkova sold 19,363 shares of EVgo stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $3.00, for a total value of $58,089.00. Following the transaction, the chief financial officer now owns 81,991 shares of the company’s stock, valued at $245,973. The disclosure for this sale can be found here. Insiders sold a total of 86,002 shares of company stock worth $234,693 over the last ninety days. 73.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EVgo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVGO. Almanack Investment Partners LLC. acquired a new position in shares of EVgo during the 3rd quarter worth $25,000. Ensign Peak Advisors Inc acquired a new position in shares of EVgo during the 3rd quarter worth $27,000. FMR LLC raised its holdings in shares of EVgo by 689.3% during the 1st quarter. FMR LLC now owns 3,457 shares of the company’s stock worth $27,000 after buying an additional 3,019 shares in the last quarter. Hilltop Holdings Inc. bought a new stake in EVgo during the 2nd quarter worth $44,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in EVgo during the 2nd quarter worth $47,000. 17.44% of the stock is owned by institutional investors and hedge funds.

EVgo Company Profile

EVgo, Inc owns and operates a direct current fast charging network for electric vehicles (EVs) in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services.